Maritime companies have generally failed to gain respect from investors. With a few exceptions, share prices are below the net asset values - a proxy for the liquidation value if a company could be broken up, assets sold, and debt paid off.
The state-owned Vietnam National Shipping Lines (Vinalines) will try a second public share sale of the remaining 480 million shares not purchased at its recent public offering early September, reported Vietnam News. The company said it will come back to the Hanoi Stock Exchange soon to complement its initial public offering (IPO) which attracted little interest.
Vietnam’s Prime Minister has approved a privatisation plan of Vietnam National Shipping Lines (Vinalines), report Vietnamese media.